Marathon Nextgen Realty Gets 37.3% Rise In Net Profit

MARATHON NEXTGEN Realty Limited, a leading real estate company, has posted a 37.3% rise in net profit for the financial year ended March this year. It amounts to about 62 crore rupees. Total revenue grew by 23%, about 120 crore rupees, over Fiscal year 2006-2007.

The company registered net sales of Rs 103.6 crores, which translates into a growth of 13.4% during the financial year ended in 2008. In the corresponding period last year, the figure stood at Rs 91.3 crores. In view of company’s commercial properties fetching high lease rentals, the company has leased about 51 thousand square feet in its Marathon Nextgen Project at Lower Parel, in Mumbai. Market value of the area is approximately Rs 30 thousand per square feet.

The company board has also declared a dividend of sixteen rupees on hundred rupees.

The earnings per share of the company grew by 37% and rose to Rs 49.19 during the financial year ended on March 2008, as compared to restated EPS of Rs 35.81 in the same period last year.

Commenting on the financial performance of the company, Mr. Chetan Shah, the chairman and managing director of the Marathon Nextgen Realty Ltd, said, “The realty major did exceedingly well during Fiscal Year 2008 and the results have been improving consistently.

Vice-chairman, Mr. Mayur Shah said, “Marathon, with its rich real estate experience, has not only turned a sick company into a profitable company but also put it on a fast growth track”.

According to the unaudited quarterly results for the quarter ended March 2008, the company has recorded a net profit of Rs 47.75 crores, registering a growth of 58% as compared to Rs 30.03 crores recorded in the corresponding period last year.

3 Comments

  1. Posted June 27, 2008 at 1:06 am | Permalink

    Marathon Nextgen Realty is the one of Renound Company in India here are the achievements of Marathon Nextgen Realty

    • Marathon Heights , the first residential tower in India with Helipad was awarded ‘The Project of the year 1999′
    • Marathon Heritage was chosen by Canara Bank over 37 other competing projects.

    • Mr. Ramniklal Shah, the founder and chairman of the group was honoured with ‘Udyog Rattan Award’, accompanied by a Certificate of Excellence in enhancing the image of India .

  2. Posted July 15, 2008 at 4:30 am | Permalink

    Marathon Nextgen Realty Ltd has informed BSE that due to some unavoidable circumstances the 31st Annual General Meeting scheduled to be held on July 28, 2008, has been postponed to August 18, 2008, therefore the Register of Members & Share Transfer Books of the Company will now remain closed from August 11, 2008 to August 18, 2008 (both days inclusive) (Revised) for the purpose of payment of dividend & Annual General Meeting (AGM) of the Company.

  3. Posted July 31, 2008 at 5:32 am | Permalink

    That is good because because after getting the 38% profit a company can be success for good growth path at every level The Group is also known for pioneering the concept of low-risk, high-return land bank concept in India. Using the tried and tested model, the Group has successfully developed mill land properties after resolving complex labour issues in Mumbai. Among the projects done using the model are: Piramal Spinning and Weaving mill – Marathon Nextgen, Jay Bharat Oil mill – Marathon Heights and Mafatlal mills – Marathon FutureX

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